Keeping Track of Your Future CUPE Hospitals SRP Pension

Workplace pension plans that offer a lifetime retirement pension are becoming increasingly rare. For many of you, your CUPE Hospitals SRP pension benefit is a very important part of your retirement planning. But where do you start when planning for retirement?

As a member of the CUPE Hospitals SRP, there are tools you can use to get a clearer picture of what your future pension benefit could be. In this newsletter we want to give you a better understanding of what these tools are, and how you can make the most of them.

Let’s start with your Employee Statement of Pension Benefits and the Online Pension Estimate Calculator.

Your Employee Statement Of Pension Benefits

If you were an active member of the CUPE Hospitals SRP in 2022, your 2022 Employee Statement of Pension Benefits will arrive soon. This statement will provide you with your updated estimated pension amounts as of December 31, 2022. Your statement also includes the information you need to use Vestcor’s Online Pension Estimate Calculator.

Need help with your statement? A guide will be included with your Employee Statement. This guide is also available by scanning the code to the right with your mobile device or at cupeh.ca under “Booklets”.

Online Pension Estimate Calculator

Did you know that you can quickly and easily get an estimate of your future monthly pension using Vestcor’s Online Pension Estimate Calculator? There are no forms to fill out and return, no waiting, and you can calculate as many estimates as you like. Want to know what your pension may look like at ages 55, 60, or 65? You can calculate estimates for all of these ages and more in minutes. You’ll want to make sure you have your most recent Employee Statement of Pension Benefits handy when you visit the website. It has information you’ll need to use the calculator. Don’t have a copy of your statement? Contact Vestcor at 1 800 561 4012 or info@vestcor.org to request a copy. Go to cupeh.ca/calculators to get started.

Are you within a year of retirement? Complete a formal pension estimate using the form available at cupeh.ca, under “Application Forms ”.

DISCLAIMER: This newsletter is a publication on behalf of the Board of Trustees of the CUPE Hospitals SRP. This publication is intended to provide information about the Shared Risk Plan for Canadian Union of Public Employees (CUPE) of NB Hospitals. If there is a discrepancy between the information contained herein and the pension plan text or other appropriate governing documents, the latter will prevail.